{"id":22110,"date":"2017-12-07T12:57:56","date_gmt":"2017-12-07T20:57:56","guid":{"rendered":"https:\/\/www.conejovalleyguy.com\/?p=22110"},"modified":"2019-06-17T10:36:36","modified_gmt":"2019-06-17T17:36:36","slug":"home-buying-myths","status":"publish","type":"post","link":"https:\/\/www.conejovalleyguy.com\/home-buying-myths\/","title":{"rendered":"8 Home Buying Myths Debunked"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-26374 alignright\" src=\"https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576-300x300.jpg\" alt=\"\" width=\"504\" height=\"504\" srcset=\"https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576-300x300.jpg 300w, https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576-450x450.jpg 450w, https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576-768x768.jpg 768w, https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576-1024x1024.jpg 1024w, https:\/\/www.conejovalleyguy.com\/wp-content\/uploads\/2017\/12\/shutterstock_164510576.jpg 1500w\" sizes=\"auto, (max-width: 504px) 100vw, 504px\" \/>If you\u2019re a CVG frequent flyer, you may have seen a pervious post, <a href=\"https:\/\/www.conejovalleyguy.com\/10-things-you-might-not-know-about-buying-a-house\/\">10 Things You Might Not Know About Buying A House<\/a> &#8211; our list of 10 buying rumors that need to be squashed.<\/p>\n<p>&nbsp;<\/p>\n<p>On a similar note, we think it\u2019s time to talk about some of those ever common home buying myths. The widely held, but false beliefs and ideas that center around the home buying process and experience.<\/p>\n<p>&nbsp;<\/p>\n<p>So, without further adieu\u2026<\/p>\n<h2><span style=\"color: #709cc1;\">8 Home Buying Myths |<\/span> <span style=\"color: #d97045;\">DEBUNKED.<\/span><\/h2>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #1<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">Online portals like Zillow, Realtor.com, Redfin and Trulia mirror the MLS<\/span><\/strong><\/p>\n<p>It\u2019s true, the online portals are an excellent tool (we even encourage them).<br \/>\nAnd for the most part, they do reflect what\u2019s available for sale, but <span style=\"color: #87bbd6;\"><strong>they&#8217;re not always 100% accurate<\/strong><\/span>. A few things to keep in mind:<\/p>\n<ul>\n<li>Many homes that are in escrow, but not all contingencies have been removed, show as available &#8211; however they are not, <em>in escrow<\/em>, essentially means sold.<\/li>\n<li>Some companies\/agents opt out and don\u2019t include all their listings to online portals.<\/li>\n<li>General Margin of Error: Zillow etc. manages millions of homes across the country, there\u2019s bound to be a mistake or two.<\/li>\n<\/ul>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> I like to set my clients up with an MLS portal. It\u2019ll catch any homes that may fall through the cracks.<\/p><\/blockquote>\n<blockquote><p><span style=\"color: #d97045;\">MLS:<\/span> The Multiple Listing Service (MLS) is the direct portal all agents use to list homes for sale. It can <span style=\"color: #87bbd6;\">only be accessed by licensed agents and brokers<\/span>, which is good news &#8211; that makes it the most accurate and up to date portal available.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #2<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">\u201cI\u2019ll save money if I buy directly from the listing agent\u201d<\/span><\/strong><\/p>\n<p>The seller always pays the entire commission and it\u2019s usually split 50\/50 between the two agents.<\/p>\n<p><span style=\"color: #709cc1;\">Here\u2019s the myth:<\/span> If you work with the listing agent directly, you\u2019ll get a portion of the commission towards the house. It makes sense, right? One person gets 100% of the commission so there\u2019s room to share\/negotiate.<\/p>\n<p><span style=\"color: #709cc1;\">The truth:<\/span><\/p>\n<ul>\n<li>Most listing agents won\u2019t split any commission with you.<\/li>\n<li>The listing agent has a contract with the seller, not with the buyer. That means, the agent\u2019s loyalty lies with the seller first, not the buyer.<\/li>\n<\/ul>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> There are many ways to negotiate price and a fair deal. Find an experienced agent who knows the area well and has established relationships with listing agents. You\u2019ll be better served in the long run.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #3<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">Having my sister-in-law from another area represent me is a good idea<\/span><\/strong><\/p>\n<p>Truth be told, it\u2019s not. And I tell my out of the area friends and family the same thing.<\/p>\n<p>&nbsp;<\/p>\n<p>You\u2019re likely making the largest purchase of your life. Local knowledge and relationships between agents is key to finding the right home and avoiding costly mistakes.<\/p>\n<p>Plus, it\u2019s hard to give full attention from the outside. The next family get together may be a bit awkward, but they\u2019ll get over it \ud83d\ude42<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> Ask your local agent if they would be willing to pay a referral fee to your sister-in-law. Then ask her to split it with you. Now everyone wins!<br \/>\n(Read: <a href=\"https:\/\/www.conejovalleyguy.com\/6-areas-of-expertise\/\">The 6 Hidden Areas of Expertise Your Agent Needs to Have<\/a>)<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #4<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">Acting \u201cindifferent\u201d is a good negotiating strategy<\/span><\/strong><\/p>\n<p>This is the \u201ccar lot\u201d strategy. When buying a car, we\u2019ve all been taught to act indifferent. Willing to leave and go to another dealer unless we get the deal we want. <span style=\"color: #87bbd6;\">But homes aren\u2019t cars.<\/span><\/p>\n<p>There aren\u2019t thousands of other homes just like it ready to buy, nor is there a factory somewhere pushing out new houses every year.<\/p>\n<p>In CA, the buyer can walk within 17 days after the offer is accepted &#8211; this can be scary to the seller. Sellers want to know you really want the house and that you\u2019re unlikely to cancel. Otherwise they\u2019ll wait for a more motivated buyer.<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> If the house has been listed for several months with no offers, a little indifference may help. But if it\u2019s a new listing with 3 offers on it, indifference will likely set you up for a loss.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #5<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">Lowballing my initial offer will result in a lower sales price<\/span><\/strong><\/p>\n<p>The opposite is often true. Emotions run high during a real estate transaction.<\/p>\n<p>A low offer can leave the seller feeling insulted. Pushing them to ignore the offer altogether, or dig their heels in on a price that is higher than they would have accepted if the initial offer was better.<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> Of course there are times when a very low initial offer is warranted &#8211; like a highly overpriced home. But if the asking price is reasonable and you\u2019re just looking for a steal, chances are it will backfire.<br \/>\n(Read: <a href=\"https:\/\/www.conejovalleyguy.com\/what-should-you-offer-on-the-house-it-depends\/\">What Should I Offer on the House? It Depends<\/a>)<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #6<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">It\u2019s the seller\u2019s responsibility to fix-up things in the house<\/span><\/strong><\/p>\n<p>Homes in CA are sold \u201cas is\u201d meaning the seller doesn\u2019t have to make repairs. But remember, you have 17 days to perform inspections and finalize the sale. If your inspections uncover issues the seller is unwilling to fix, you can cancel and get your money back.<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> In Los Angeles and Ventura County, the seller is only required to strap the water heater for earthquake safety, install smoke detectors, install carbon monoxide detectors. That\u2019s it. (Read: <a href=\"https:\/\/www.conejovalleyguy.com\/best-strategy-to-get-the-seller-to-make-repairs\/\">Best Strategy to Get the Seller to Make Repairs<\/a>)<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #7<\/span><\/strong><\/h3>\n<p><span style=\"color: #709cc1;\"><strong>I can cancel if the seller damages the home on the way out<\/strong><\/span><\/p>\n<p>Within the last 5 days of escrow, you\u2019ll do your \u201cfinal walk through\u201d to make sure the home is in the same condition it was when you bought it and that any negotiated repairs have been completed.<\/p>\n<p>In the very rare instance the seller lets the grass die or damages the walls on the way out, the agents will negotiate for a certain amount of the seller\u2019s proceeds to be withheld in escrow until the repairs are complete.<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> Many buyers worry about this walk through, but it\u2019s almost never an issue. In fact, it\u2019s usually an exciting part of the process for the buyer. And if the seller is there, they often open-up to share a few tips &amp; tricks on your new home.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><strong><span style=\"color: #d97045;\">Myth #8<\/span><\/strong><\/h3>\n<p><strong><span style=\"color: #709cc1;\">Sellers must deliver the house to me clean and ready to move in<\/span><\/strong><\/p>\n<p>Oh how we wish this were true. Unfortunately there is nothing in the contract that outlines how the home is to be delivered to the buyer. Fortunately most sellers will have the home professionally cleaned, or at the very least, broom cleaned. But if they don\u2019t, there\u2019s nothing we can legally do about it.<\/p>\n<blockquote><p><span style=\"color: #d97045;\">Tip:<\/span> Find out ahead of time how the seller intends to deliver the house. If they\u2019re not going to clean, at least you\u2019ll know and you can schedule accordingly.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"color: #87bbd6;\">Buying myths and misinformation is everywhere.<\/span><\/h2>\n<h2 style=\"text-align: center;\"><span style=\"color: #87bbd6;\">I&#8217;ll answer any questions you might have,<\/span><\/h2>\n<h3 style=\"text-align: center;\"><span style=\"color: #87bbd6;\">and I&#8217;ll help you find and buy your new home<\/span><\/h3>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a class=\"scroll-link btn btn-secondary\" href=\"#form-section\">Let&#8217;s Connect!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re a CVG frequent flyer, you may have seen a pervious post, 10 Things You Might Not Know About Buying A House &#8211; our list of 10 buying rumors that need to be squashed. &nbsp; On a similar note, we think it\u2019s time to talk about some of those ever common home buying myths. [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":26359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-22110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>8 Home Buying Myths Debunked | Conejo Vally Guy - Michael Rice<\/title>\n<meta name=\"description\" content=\"Some home buying tips will be helpful, and some will be myths. 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